Market Outlook: Grim in Japan

As Japanese Prime Minister Shinzo Abe was yesterday telling UK members of parliament to back Theresa May’s deal on leaving the EU, because the world didn’t want a no-deal Brexit, data published in Japan this morning was downbeat. Household spending skidded to -0.6 per cent, from a peak of +2.8 per cent in October. The trade deficit increased in November from 321 billion to 559 billion yen. And the economy watchers’ surveys both dropped below 50: Current conditions to 48 from 51 and the outlook to 48.5 from 52.2 (lowest since April 2017).